BlackRock Fund Advisors recently announced the acquisition of new stake in Avalo Therapeutics Inc. (NASDAQ:AVTX). The institutional investor has increased its shareholding in the Healthcare company by 19.21% to 0.12 million shares with purchase of 19781.0 shares. This fresh investment now brings its stake to 0.59% valued currently at $12274.0. In addition, Geode Capital Management LLC raised its holdings by 29638.0 to 80970.0 shares.
With over 113.67 million Avalo Therapeutics Inc. (AVTX) shares trading Friday and a closing price of $0.13 on the day, the dollar volume was approximately $14.78 million. The shares have shown a negative half year performance of -94.78% and its price on 09/15/23 lost nearly -38.37%. Currently, there are 62.87M common shares owned by the public and among those 62.62M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for AVTX have a consensus price objective of $0.75. The analysts have set the share’s price value over the next 12 months at a high of $0.75 and a low of $0.75. But an upside of 82.67% will see the stock hit the forecast high price target while median target price for the stock is $0.75.
Insiders at the company have transacted a total of 38 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 35 of these insider trades were purchases, accounting for 211,257 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 2,545,404 shares.
The top 3 mutual fund holders in Avalo Therapeutics Inc. are Vanguard Total Stock Market ETF, iShares Tr. – Micro Cap ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 0.12 million shares of the company’s stock, all valued at over $11982.0. Vanguard Extended Market Index Fu now owns shares totaling to 0.34% of the shares outstanding.
Shares of Avalo Therapeutics Inc. (NASDAQ: AVTX) opened at $0.1761, down -$0.04 from a prior closing price of $0.22. However, the script later moved the day high at 0.1800, down -38.37%. The company’s stock has a 5-day price change of 42.47% and -96.48% over the past three months. AVTX shares are trading -97.37% year to date (YTD), with the 12-month market performance down to -96.83% lower. It has a 12-month low price of $0.08 and touched a high of $7.00 over the same period. AVTX has an average intraday trading volume of 22.13 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.12%, -30.68%, and -94.87% respectively.
Institutional ownership of Avalo Therapeutics Inc. (NASDAQ: AVTX) shares accounts for 59.00% of the company’s 62.87M shares outstanding. Mutual fund holders own 11.40%, while other institutional holders and individual stakeholders account for 3.77% and 1.86% respectively.
It has a market capitalization of $13.45M and a beta (3y monthly) value of 1.25. The earnings-per-share (ttm) stands at -$2.14. Price movements for the stock have been influenced by the stock’s volatility, which stands at 45.26% over the week and 24.62% over the month.
Analysts forecast that Avalo Therapeutics Inc. (AVTX) will achieve an EPS of -$1.1 for the current quarter, -$1.26 for the next quarter and -$4.62 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.1 while analysts give the company a high EPS estimate of -$1.1. Comparatively, EPS for the current quarter was $0.34 a year ago. Earnings per share for the fiscal year are expected to increase by 56.30%, and -12.10% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Avalo Therapeutics Inc. (AVTX) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the AVTX, a number of firms have released research notes about the stock. RBC Capital Mkts stated their Outperform rating for the stock in a research note on September 24, 2021, with the firm’s price target at $6.